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Lender Toolkit AI Underwriter Transforms the Mortgage Process by Generating a Loan-Level Needs List in 90 Seconds or Less

The AI-powered platform accelerates the underwriting process through its strategic mortgage automation capabilities.

With loan officers and processors traditionally having to rely on educated guesswork during the origination process, Lender Toolkit AI Underwriter has emerged as a transformative solution for the laborious underwriting process. AI Underwriter™ eliminates guesswork, delivering data-driven upfront conditioning on a loan level. This creates consistency from start to finish in the mortgage manufacturing process and provides loan officers with the ability to secure underwriter conditions in real-time as opposed to the 24-48 hour waiting periods that are all too common with manual processes.

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AI Underwriter’s™ verified data-driven approvals can be accessed at the press of the button. As a result, loan processors, loan officers, borrowers, and underwriters are all able to achieve benefits from this innovation.

With AI Underwriter™, processors can automatically examine multiple data points, such as client credit report information, AUS (Automated Underwriting System), appraisal review, and even FHA (Federal Housing Administration) Connection, among others. The platform also provides a loan-level checklist to help processors determine pertinent information in a given file and replace product-level checklists with loan-level conditioning.

This loan-level conditioning capability allows lenders to provide information to borrowers in real-time. This results in an enhanced customer experience, as borrowers can instantly recognize what is needed to close a loan. This leads to more referrals from realtors and saves loan officers hours of time. It also provides loan officers with a competitive edge, as this technology can be critical for front-facing loan approvals.

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Underwriters can improve the consistency of their submissions by avoiding all of the tedious tasks associated with conditioning files. AI Underwriter™ automatically completes document expiration dates, closing instructions, cash-to-close totals, and more.

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Underwriters can maintain complete confidence knowing that AI Underwriter™ will catch anything they may miss within sections such as state-specific net tangible benefit disclosures, company overlays, and secondary loan program conditions (including non-QM, jumbo, and bond loans). Lender Toolkit’s new Prism feature also provides time-saving benefits, as the platform automatically calculates income for processors, eliminating the need for underwriters to conduct manual calculations.

AI Underwriter™ can integrate with credit providers such as CoreLogic Credco (Digital Certificate), Equifax Mortgage Solutions, and MeridianLink, Inc., as well as AMCs (appraisal management companies), such as Mercury, Dart Appraisals, and ValueLink Core (MyAMC). Integration to fraud tools and AUS (Automated Underwriting Systems) such as Fannie Mae Desktop Underwriter (DU), Freddie Mac Loan Prospector (LPA), and FHA Total Scorecard is also available.

The vast majority of competitors fail to offer the level of customization available through the AI Underwriter™ platform. With the Condition Builder feature, users can customize and add any of the over 600+ available conditions with their own verbiage, including custom programs, overlays, and more. The feature even allows for the usage of custom fields within the user’s system, adding yet another layer of customization to the process.

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